Ethereum preparing a 'bear trap' ahead of the Merge — ETH price to $4K next? By Cointelegraph

Ethereum preparing a 'bear trap' ahead of the Merge — ETH price to $4K next?

Cryptocurrency May 22, 2022 05:00AM ET

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Ethereum preparing a 'bear trap' ahead of the Merge — ETH price to $4K next?

Ethereum's native token, Ether (ETH), continues to face downside risks in a higher interest rate environment. But one analyst believes that the token's next selloff move could turn into a bear trap as the market factors in the possible release of the Merge this coming August.

Ether's price could reach $4,000 by 2022's end, according to a technical setup shared on May 20 by Wolf, an independent market analyst.

ETH/USD three-day price chart featuring ascending triangle setups. Source: Wolf/TradingView

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Comments (1)

jason xx May 22, 2022 9:19AM ET

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Not for nothing these TA experts wrong. They get it right as often as a coin flip then act like nostradamus

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Ethereum preparing a 'bear trap' ahead of the Merge — ETH price to $4K next?

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